Re-mortgage cases (freehold or leasehold properties)


We offer a high quality, personal service. Our legal fees for acting for you in a re-mortgage of your existing property will be approximately £750.00 – £850.00 plus VAT depending on the particular circumstances of your matter. VAT is charged at the current rate of 20%.
Our fee covers the following work:

 

We reserve the right to increase our fee for any unforeseen work (i.e. work which is over and above what we would normally expect to be included in a standard transaction of this nature). This may include the following:

Disbursements


Disbursements are costs related to your matter that are payable to third parties, such as Land Registry Fees. We handle payment of the disbursements on your behalf to ensure a smoother process. The following disbursements may apply to your re-mortgage. Please note that these are costs which are payable to third parties and which are in addition to our fees. The following disbursements are likely to apply:

 

*In some cases (and if it is acceptable to your lender) we may be able to take out a search indemnity policy instead of obtaining an up to date local authority search and drainage and water search for a fee which is dependent on the value of the property and usually in the region of £40.00 -£100.00)

 

Payment on account: we will request a payment on account at the outset of the transaction, currently £500.00.

Example of a freehold property re-mortgage


For the re-mortgage of an existing freehold house with a value of £460,000.00 in the London borough of Enfield our fees and disbursements would be as follows:

Service Cost Total
Legal Fees £750.00
VAT £150.00
Legal Fees & Vat £900.00
Disbursements
Local Authority Search £237.00*
Drainage and Water Search £56.00*
Land Registration fee £40.00
Land Registry Priority Search fee £3.00
Bank charge for telegraphic transfer (inc VAT) £18.00
Bankruptcy Search fee (per name) £2.00
Anti Money Laundering Check fee (per name) £9.00
Disbursements Total £423.80
Final Total £1,323.80

*In some cases (and if it is acceptable to your lender) we may be able to take out a search indemnity policy instead of obtaining an up to date local authority search and drainage and water search for a fee which is dependent on the value of the property and usually in the region of £40.00- £100.00).

Example of a leasehold re-mortgage


For the re-mortgage of an existing leasehold flat with a value of £460,000.00 in the London Borough of Enfield our fees and disbursements would be as follows:

Service Cost Total
Legal Fees £750.00
VAT £150.00
Legal Fees & Vat £900.00
Disbursements
Local Authority Search 237.00*
Drainage and Water Search £56.00*
Environmental Search £58.80
Notice of Charge Fee (estimated) Payable to Freeholder £50.00
Re-Mortgage Pack fee (if applicable) (estimated) payable to Freeholder £18.00
Land Registration fee £40.00
Land Registry Priority Search fee £3.00
Bank charge for telegraphic transfer (inc VAT) £18.00
Bankruptcy Search fee (per name) £2.00
Anti Money Laundering Check fee (per name) £18.00
Disbursements Total £673.80
Final Total £1,573.80

*In some cases (and if it is acceptable to your lender) we may be able to take out a search indemnity policy instead of obtaining an up to date local authority search and drainage and water search.


Re-mortgage not proceeding: If, for any reason, we are unable to complete the re-mortgage of your property, we will make a charge which will be a proportion of the fixed fee quoted relative to the time spent. Re-mortgages that fail to complete often involve as much work as those which reach completion. Any charge made will not exceed the amount of the fixed fee we have given.

Please note that the examples above are for guidance only. We will always provide you with individual costs information and a copy of our terms and conditions of business.